2006: Supervalu buys most of Albertsons Inc. for $12 billion, making it one of the nation's largest grocery retailers, with stores from coast to coast. New markets include Southern California, Chicago, Philadelphia and New England. But the company takes on huge debt.

July 11, 2012: With Supervalu's performance going from bad to worse and its stock at historic lows, the firm puts itself up for sale in whole or in parts.

July 30, 2012: Herkert is terminated. Non-executive chairman Wayne Sales, former head of a large Canadian retailer, is named CEO.

Jan. 10, 2012: Supervalu announces $3.3 billion deal to sell its biggest chains to an investor group led by Cerberus Capital, a large private equity outfit. The company also announces tender offer by Cerberus for up to 30 percent of Supervalu at $4 per share.